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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1031]
Wellington Drive narrows annual loss, tagged by auditor
Friday, 28 February 2014, 5:40 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Wellington Drive Technologies, which makes energy efficient refrigeration motors, narrowed its annual loss in 2013 in the second year of its turnaround plan, while having its accounts tagged by auditor PwC over its cashflow ... More >>
NZ dollar heads for 1.3% weekly gain
Friday, 28 February 2014, 5:17 pm | BusinessDesk
NZ dollar heads for 1.3% weekly gain as local data fuels rate hike expectations More >>
Cavalier 1H profit soars; trims FY earnings guidance
Friday, 28 February 2014, 5:12 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Cavalier Corp., the listed carpet-maker, more than doubled first-half profit as it clamped down on costs, though it cut its forecast annual earnings as it restructures its carpet tile unit and contends with a strong currency ... More >>
Northland Port posts 3.7 percent rise in first half profit
Friday, 28 February 2014, 5:04 pm | BusinessDesk
Feb 28 (BusinessDesk) – Northland Port Corp, which owns half of the Whangarei port operating company, posted a 3.7 percent rise in first half profit as it moved more cargo and it expects a continuation of the trend will boost annual earnings. More >>
Diligent annual profit slides 40% as restatement costs mount
Friday, 28 February 2014, 4:07 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Diligent Board Member Services, the governance app software developer, reported a 40 percent slump in annual profit as the cost of restating its accounts overshadowed revenue gains after a series of accounting blunders. More >>
Solid Energy posts small first-half loss of $40.9 mln,
Friday, 28 February 2014, 3:22 pm | BusinessDesk
Solid Energy posts small first-half loss of $40.9 mln, yet to draw on Crown funding More >>
Countdown supermarket chain grabs more market share
Friday, 28 February 2014, 3:16 pm | BusinessDesk
Feb. 28 (BusinessDesk) – Australian-owned New Zealand supermarket chain Countdown boosted first-half earnings as it nabbed market share and customer numbers in what it says is a subdued environment. More >>
Allied Farmers narrows first-half loss
Friday, 28 February 2014, 2:17 pm | BusinessDesk
Feb 28 (BusinessDesk) - Allied Farmers, which is slowly rebuilding from a disastrous takeover of the Hanover and United Finance loan books, narrowed its first-half loss as its livestock unit returned to profit, and is mulling ways to pay debt owing to ... More >>
NZ business confidence at highest level in almost 20 years
Friday, 28 February 2014, 1:55 pm | BusinessDesk
NZ business confidence rises to highest level in almost 20 years; New Zealand dollar jumps More >>
NZX to cancel Insured Group listing over rule breaking
Friday, 28 February 2014, 12:40 pm | BusinessDesk
Feb. 28 (BusinessDesk) – NZX, New Zealand’s stock exchange operator, will de-list Insured Group, which last traded in April, after repeatedly failing to comply with listing rules. More >>
Mercer Group expects FY earnings to fall on hiring intention
Friday, 28 February 2014, 12:19 pm | BusinessDesk
Feb. 28 (BusinessDesk) –Mercer Group, the stainless steel fabricator, expects annual earnings to decline this year as it invests in more staff in anticipation of future earnings growth. The shares dropped 4.8 percent. More >>
KiwiRail cuts earnings forecast as Aratere outage weighs
Friday, 28 February 2014, 11:40 am | BusinessDesk
KiwiRail cuts annual earnings forecast as Aratere outage weighs, in talks with govt over finances More >>
NZ building consents slide 8.3% in January
Friday, 28 February 2014, 11:11 am | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand building consents for residential housing dropped 8.3 percent in January as the number of new apartments and retirement units dwindled from records in November and December. More >>
Lyttelton Port resumes dividends after insurance swells 1H
Friday, 28 February 2014, 10:51 am | BusinessDesk
Feb. 28 (BusinessDesk) - Lyttelton Port Co, Christchurch’s ocean trade hub, has resumed dividend payments for the first time since 2010 after reaching a settlement with its insurers over the damage caused by the Canterbury earthquakes, which swelled ... More >>
NZ Windfarms narrows first-half loss
Friday, 28 February 2014, 10:22 am | BusinessDesk
Feb 28 (BusinessDesk) - NZ Windfarms, which operates Te Rere Hau windfarm in the Tararua Ranges, narrowed its first-half loss, generating more energy but achieving less revenue than in the same period a year earlier. More >>
T&G turned to FY profit in 2013 after two years of losses
Friday, 28 February 2014, 10:18 am | BusinessDesk
Turners & Growers turned to an annual profit in 2013 after two years of losses following writedowns More >>
Metlifecare 1H profit falls 69% as merger gains wash through
Friday, 28 February 2014, 10:07 am | BusinessDesk
Feb. 28 (BusinessDesk) - Metlifecare, the retirement village operator and developer which counts the New Zealand Superannuation Fund and Infratil as cornerstone investors, reported a 69 percent drop in first-half profit as the gains from last year’s merger ... More >>
Transpower trims interim dividend despite higher revenues
Friday, 28 February 2014, 9:19 am | BusinessDesk
Feb. 28 (BusinessDesk) - Transpower, the state-owned national electricity grid operator, will pay a smaller interim dividend than last year, while lifting its first-half revenue after completing its North Island grid upgrade and commissioning of the Cook ... More >>
NZ dollar rises as buoyant economy cements rate hike view
Friday, 28 February 2014, 8:56 am | BusinessDesk
Feb. 28 (BusinessDesk) – The New Zealand dollar was the best performing major currency overnight, nudging above 83.90 US cents, as a raft of positive economic news cemented the likelihood of the Reserve Bank raising interest rates next month. More >>
High dollar, tight margins push NZ Refining to annual loss
Friday, 28 February 2014, 8:47 am | BusinessDesk
Feb. 28 (BusinessDesk) – Refining NZ, operator of New Zealand’s only oil refinery, has reported a loss for the year to Dec. 31 of $5.0 million, reflecting the impact of a strong local currency and volatile margins caused by the global over-supply ... More >>
